Antofagasta plc·Basic Materials

Mining companies topped the FTSE 100 and 250 leaderboard on Wednesday as metals prices rose after the US and Iran agreed a two-week ceasefire. Copper miner Antofagasta PLC (LSE:ANTO) leapt 12.6%, while copper-focused Anglo American PLC (LSE:AAL) jumped over 10%, with a similar gain for precious metals specialist Fresnillo PLC (LSE:FRES).

Antofagasta PLC (LSE:ANTO) led a broad market rally as diplomatic signals from Tehran ease fears of a prolonged conflict and higher energy costs. The FTSE 100 climbed more than 170 points on Wednesday as mining stocks surged on cautious optimism that the US-Iran conflict may be moving toward a diplomatic resolution, with Brent crude falling below $100 a barrel for the first time in weeks.

Big-cap miners fell sharply on Monday as a strengthening US dollar and risk-off sentiment triggered by the Iran conflict weighed on industrial metals Shares in major London-listed mining companies fell sharply on Monday, with Anglo American PLC (LSE:AAL) and Anglo American PLC (LSE:AAL)among the hardest hit as a surging US dollar and a slump in copper prices rattled investors. Anglo, the FTSE 100 diversified miner, fell 5.7%, while Antofagasta, the Chilean copper producer, dropped 5.5% in early trading.

Citigroup reiterated its 'buy' recommendation on Antofagasta PLC (LSE:ANTO) and left its £40 price target unchanged following the group's 2025 results analyst call. Citi stated that the key highlight from the call was management's reaffirmation of its copper volume growth outlook, which pointed to roughly 30% higher production by 2029.

JP Morgan reiterated its 'overweight' recommendation on Antofagasta PLC (LSE:ANTO) and retained the shares on its Europe, Middle East and Africa Analyst Focus List, with an unchanged December 2027 price target of £44.00 per share. The bank argued that Antofagasta offered around 30% copper volume growth by 2028 to 2029 compared with 2024 levels, positioning it as one of the fastest-growing names among its global copper peers.

Antofagasta plc (ANFGF) Q4 2025 Earnings Call Transcript
Antofagasta plc operates as a mining company. It operates through Los Pelambres, Centinela, Antucoya, Zaldívar, Exploration and Evaluation, and Transport Division segments. The company holds a 60% interest in the Los Pelambres mine, a 70% interest in the Centinela mine, a 70% interest in the Antucoya mine, and a 50% interest in the Zaldívar mine located in Chile. Its mines produce copper cathodes and copper concentrates, as well as molybdenum, gold, and silver by-products. The company also has exploration projects in various countries. In addition, it provides rail and road cargo services to mining customers in northern Chile. The company was founded in 1888 and is headquartered in London, the United Kingdom. Antofagasta plc is a subsidiary of Metalinvest Establishment.
Basic Materials
Copper
8,095
2010-01-05
1.38